Ivan Keene asked 6 months ago
Bookmakers and casinos give themselves an advantage and 99% of folks fall into their “trap”. How do this is accomplished and what should be avoided?
Let’s look-at the example of roulette in a casino.
On the surface, it looks OK. 36 numbers, choose one and obtain 35-1 if you’re correct right? Wrong. most individuals forget that you will discover actually 37 numbers including zero (or perhaps 38 with a double zero on American roulette). This make a huge difference in terms of payouts. So just using European roulette, let’s crunch the numbers.
If you choose one number, the particular odds of getting that number correct is 1 in 37 or 36-1. So by offering 35-1, the casino has instantly stacked the odds ever so subtly within their favour. Just the reduction of 1 point gives the house an edge of approximately 2.7 percent. Not much of a lot you could think but over the course of Ł100,000 that’s Ł2700 in favour of the casino. A small margin but a margin nonetheless.
So what about red/black or odd/even? Again, it could appear to be a 50/50 bet. But with the inclusion of zero, you actually have an 18 in 37 chance (48.65%). That favours the home by 1.35% which over the course of one day, could equal to thousands of pounds.
But this is nothing compared to bookmakers.
As I’ve demonstrated, a “50/50” at a casino is actually a 48.65/51.35 against you. At bookmakers, the margin is significantly greater. A seemingly 50/50 bet is mostly priced up at 9/10 or 1.9 in decimal odds.
Therefore the bookmaker is giving themselves a tremendous 10% margin on these sort of bets, the most common of that are called “handicap bets”. The handicap bets are set up in such a way that you will find only two possible outcomes, rated as equally likely. But no matter what your decision is, the bookie stands to keep 10% of the specific odds. Not fair, you could think. Well, they are not going to give you anything for free. They’re within the business of making money after all.
So how can you counter these edges?
It is possible with bookmakers click here to visit npfarmer.soisweb.uwm.edu for free make use of a system of “handicap doubles”. I will explain this at another time. Otherwise, only good fortune will counter a bookie’s edge and that is not something to rely on.